In the midst of regulatory turbulence and the founder of Binance beginning a federal prison sentence, the Binance crypto ecosystem is experiencing a paradoxical surge. The BNB coin has soared to a new All-Time High (ATH), reaching a staggering $720.67 USD on June 6th, 2024.

This surge marks a significant milestone for BNB, the native coin of the world’s largest cryptocurrency exchange. Previously, BNB had seen its value reach around $650 before undergoing corrections. However, this recent ATH has surpassed all previous records.

Numerous factors are being attributed to this remarkable price surge. One prominent theory among traders is the anticipation of a spot ETF approval for Binance Coin later this year. Following in the footsteps of Ethereum’s approval, expectations are high for BNB, as well as other coins like SOL, XRP, and LTC.

Another contributing factor to BNB’s surge is Binance’s recent decision to resume credit card purchases, particularly those made via Visa and Mastercard. Although this announcement was made just recently, it's suspected that insider information may have played a role in influencing early investors.

Adding to the speculation is the launch of Bitnance ($BTN), a BEP-20 alternative to Bitcoin, on the Binance Chain. This token presale has garnered significant attention from investors and media publications alike, touting it as a potential rival to Bitcoin due to its anti-inflation metrics and lower transaction fees.

With over 170 million crypto traders reportedly using Binance and trading volumes exceeding $7.7 trillion per year, the Binance ecosystem remains a dominant force in the crypto market. The BEP-20 network also supports over 69 fiat currencies, making it one of the most accessible options for cryptocurrency holders worldwide.

As excitement builds around the potential of a spot ETF approval, the rise of Bitnance (BTN) against Bitcoin, and the resumption of credit card purchases, speculations abound that the price of BNB could soon surpass $1000.

While the founder's federal prison sentence casts a shadow over Binance, the resilience and innovation within its ecosystem continue to captivate investors and shape the future of cryptocurrency trading.